Brown Shipley& Co Ltd Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Brown Shipley& Co Ltd lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 12.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,223 shares of the electric vehicle producer’s stock after selling 3,120 shares during the quarter. Tesla comprises 2.7% of Brown Shipley& Co Ltd’s holdings, making the stock its 12th largest position. Brown Shipley& Co Ltd’s holdings in Tesla were worth $5,553,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fiduciary Trust Co lifted its position in Tesla by 15.5% during the third quarter. Fiduciary Trust Co now owns 10,594 shares of the electric vehicle producer’s stock worth $2,772,000 after buying an additional 1,425 shares in the last quarter. National Wealth Management Group LLC increased its stake in shares of Tesla by 92.8% in the 3rd quarter. National Wealth Management Group LLC now owns 4,925 shares of the electric vehicle producer’s stock worth $1,289,000 after acquiring an additional 2,371 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Tesla by 2.4% during the 3rd quarter. Bell Investment Advisors Inc now owns 2,309 shares of the electric vehicle producer’s stock worth $604,000 after acquiring an additional 54 shares during the period. True Vision MN LLC acquired a new position in shares of Tesla during the 3rd quarter valued at about $522,000. Finally, CreativeOne Wealth LLC grew its holdings in shares of Tesla by 22.0% in the third quarter. CreativeOne Wealth LLC now owns 37,067 shares of the electric vehicle producer’s stock valued at $9,698,000 after purchasing an additional 6,678 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock valued at $92,956,692 in the last three months. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. Bank of America increased their price target on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wolfe Research initiated coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $231.06.

Tesla Stock Down 1.6 %

TSLA stock opened at $332.89 on Thursday. The company’s 50 day moving average is $270.63 and its two-hundred day moving average is $229.89. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $361.93. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.07 trillion, a P/E ratio of 91.20, a PEG ratio of 11.00 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. Research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.